State Trading Organization (STO) was established in 1964 as Athireemaafannu Trading Account (ATA) with the primary mission of ensuring national food security. Its role was to import essential goods in bulk for nationwide distribution at affordable prices. In 1979, ATA was renamed STO, expanding imports from food to consumer goods, building materials, and household products.

As the Maldivian economy grew, STO evolved beyond its state trading role, diversifying into new sectors to generate foreign exchange and support national development. Today, STO is a leading business group with wide-ranging interests in petroleum, cooking gas, building materials, healthcare, consumer electronics, supermarket products, insurance, shipping, and bunkering, with operations across the Maldives and in Singapore.